LVMH: ACCELERATING GROWTH IN THE SECOND QUARTER SOLID FIRST-HALF RESULTS

PERLA-LVMH Moët Hennessy Louis Vuitton, the world’s leading high-quality products group, recorded revenue of €38.6 billion in the first half of 2026. LVMH maintained its innovative momentum and remained very solid in a geopolitical and economic environment that remained disrupted, amplified by the conflict in the Middle East. Growth accelerated in the second quarter, with organic revenue growth for the Group of 3% (4% excluding the impact of the conflict in the Middle East).

The United States saw growth accelerate and had a good first half of the year. Asia (excluding Japan) saw strong growth, confirming the improvement in trends observed starting in the second half of 2025. Japan posted growth for the half-year period and Europe showed good resilience.

Profit from recurring operations for the first half of 2026 came to €8.7 billion, equating to an operating margin that remained high at 22.5%. The Group share of net profit amounted to €5.7 billion, stable year on year.
Bernard Arnault, Chairman and CEO of LVMH, commented: “LVMH demonstrated its solidity and effective strategy. Our Maisons – which remained focused on ensuring the utmost quality in our products, and several of which are pursuing their creative renewal – continued to inspire dreams and enhance their desirability. Accelerating growth in the second quarter arose in particular from the success of Jonathan Anderson’s first designs for Christian Dior, the remarkable performance of Louis Vuitton’s exceptional new stores in Beijing and Seoul, and Tiffany and Bvlgari’s iconic lines. Strong growth at Sephora and the recovery in champagne and cognac also contributed to this excellent momentum. While continuing to pay very close attention to margins, we are entering the second half of the year with renewed confidence in the long-term potential of our Maisons and in our highly committed teams to continue to stand out and reinforce LVMH’s leadership position. The latest edition of our Journées Particulières events will showcase the invaluable expertise of our craftspeople and the rich heritage of our Maisons, offering an array of unique experiences.”

Highlights of the first half of 2026 included the following:
- Solid results over the half-year period.
- Accelerating growth in the second quarter.
- Growth in profit from recurring operations excluding the negative currency impact.
- High level of operating margin maintained at 22.5%.
- Robust cash flow of €4.1 billion.
- Signs of recovery for Wines & Spirits.
- Gradual acceleration in Fashion & Leather Goods, which returned to organic revenue growth in the second quarter.
- Excellent performance in jewelry for Tiffany and Bvlgari.
- Sustained growth at Sephora.